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The ariary is the currency of Madagascar. It is
subdivided into 5 iraimbilanja and is one of only two non-decimal
currencies currently circulating The names ariary and iraimbilanja
derive from the pre-colonial currency,
In the sixties 50, 100, 500, 1000 and 5000 francs Bamknotes were issued..
As overprints on earlier the Bank of Madagascar and Comoros notes, Regular banknotes in the same denominations followed
with the denomination in ariary written only in words, not
numerals.
When
The Central Bank of the Malagasy Republic took over the issuance of
notes inew notes were issued in the same denominations as had
been used earlier. But the name of the bank changed to the Central Bank of
Madagascar , resulting in a new series of notes which included 10,000
francs (2000 ariary).
In the nineties notes for 500 ariary and 5000 ariary were introduced which bore
the ariary denominations in numerals as well as the franc denominations replaced
later by new issues which only gave the franc denominations in
numerals.
In 2003-2004, new notes were introduced in denominations of 100, 200,
500, 1000, 2000, 5000 and 10,000 ariary. bearing also the franc
denominations (500, 1000, 2500, 5000, 10,000, 25,000 and 50,000) in very
small numerals.
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